524 N Brown St

Vinita, OK 74301

$193,000F

3 bd · 2.0 ba · 1,530 sqft · Built 1975 · SingleFamily · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,319/mo
• Mortgage (P&I): −$1,012
• Tax + insurance: −$161
• HOA: −$0
• Vac / Maint / Mgmt: −$277
• Net cashflow: $-131/mo
• Annual: $-1,571/yr
• Cap rate: 5.48%
• Cash-on-cash: -2.91%
• DSCR: 0.87
• 1% rule: 0.68%
• Cash to close: $54,040

Investor read

• This is a 3-bed/2.0-bath single-family listed at $193k.
• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (12.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (31.7% below list).
• It's been on market 18 days — a 2% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (31.7% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#227 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Vinita (town): math 24% / reading 20% proficiency, ranked #156 of 270 in OK (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Vinita Es (math 33% / reading 18%, grade F, #345 of 845 statewide, top 41%, 595 students, 0% FRL); Ewing Halsell Ms (math 17% / reading 20%, grade F, #182 of 345 statewide, top 53%, 307 students, 0% FRL); Vinita Hs (math 22% / reading 27%, grade F, #150 of 447 statewide, top 48%, 419 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 113 active listings in the ZIP; 24 units permitted in Craig County in 2024 (0 in 5+ unit buildings).
• Craig County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $155k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.